Market Outlook And Estimation
The worldwide air compressor market is estimated to grow at about 7 percent CAGR during 2014 to 2020. It is predicted to grow to around USD 30 billion by 2020. Air compressors mainly examine and provide gas/air for different non-industrial and industrial operations.
They enable gas movement in the sectors of food and beverages, vehicles, conveyance, extraction of oil and others. Thus, rising demand for air compressors in all these sectors is anticipated to drive the demand for the air compressor market.
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Apart from the sectors mentioned above, air compressors also find uses in spray painting, air blast circuits, chemical plants, fabrics, pneumatic devices, plastic processing units, road building machines, dairies, etc. Increased demand for air compressors across the aforementioned applications also drives further demand for the air compressor market.
Air compressors are machines transforming low pressure air into high pressure air. This is done by sucking air from the environment and squeezing it in a holding compartment. Air compressors boost the air pressure by reducing the quantity of air with a piston’s assistance.
Increased demand for air compressors from the sectors of services stations and rubber factories also drives the air compressor market forward. Compressors have now improved in terms of technology and offer zero sound, fresher air, simple transportability and energy effectivity. These multi-benefits associated with state-of-the-art air compressors work in favor of the air compressor market and drive its sales.
Some of the other factors which propel the market ahead are emergent economies and quick urbanization. Conversely, high functional prices in the production of air compressors can impede the flow of the air compressor market and slow it down. Less awareness and knowledge regarding air compressors also prevent further expansion of the market.
At present, various industries are on rise. This factor opens expansion prospects for the air compressor market. The coming up of air compressors with low preservation costs has been accepted well by various purchasers across different industry verticals.
The worldwide market is segmented in view of four categories. These are kinds, product designs, geographies and lubrications. The kinds market is divided further into stationary and moveable. The product designs air compressor market is segmented in view of rotary, reciprocating and centrifugal. The geographies market consists of Asia Pacific, rest of the world, Europe and North America. The air compressor market, on account of lubrications, includes oil-free and oil lubricated.
The kinds sector was dominated by stationary air compressors in 2013. Stationary generated the highest income that year and would steer further demand for the air compressor market through the forecast period. The products design market was leaded by rotary in 2013. Centrifugal is estimated to display the utmost expansion in the years ahead.
The geographies market is dominated by Asia Pacific. This region is expected to display likewise trends during the forecast period. The lubrications sector is leaded by oil lubricated in 2013. It would display similar trends by the end of the forecast period. The broad-scale use of oil lubricated compressors in the industries of gasoline, vehicles, mining and chemicals is a primary factor, driving further growth of the oil lubricated air compressor market.
Information Source: Grand View Research